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Beyond Music provides DJ services for events such as high school dances, weddings, and corporate events. Michael Cantu started the business on June 1,
Beyond Music provides DJ services for events such as high school dances, weddings, and corporate events. Michael Cantu started the business on June 1, 2020. The June activities resulted in totals at June 30, 2020, as follows below: Cash $12,000 Accounts Receivable $4,600 Office Supplies Event Equipment $1,560 $9,600 Sound System Equipment Michael Cantu Accounts Payble Capital $6,200 $24,000 $45,560 The following transactions took place in July: July 17 Cantu invested $20,000 cash in the business. July 2 Rented office space and paid the month's rent of $1,000 cash July 4 July 6 July 8 Purchased sound system equipment for $8,000 by paying $3,000 in cash and agreeing to pay the balance in 30 days. Purchased office supplies by paying $1,000 cash. Provided DJ services for three weddings and immediately collected $4,400 in total for completing the services. Completed DJ services for a customer on credit in the amount of $4,800. Purchased $3,840 of office supplies on credit. Paid for the event equipment purchased on July 10. July 10 July 15 Purchased $7,600 of projectors and screens on credit. (Event equipment) July 17 July 23 July 25 July 28 July 29 Paid DJ wages of $4,500. July 30 Paid the monthly utility bills of $1,700. July 31 Cantu withdrew $2,400 cash from the business to pay personal expenses. Billed a large corporate customer $6,000 for DJ services and $4,000 for the rental of event equipment; the balance is due in 30 days. Received $4,800 for the work completed on July 15,
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